Justin Yifu Lin Chief Economist and Senior Vice President the World Bank January 9, 2011
|
|
- Russell Shelton
- 5 years ago
- Views:
Transcription
1 Growth Identification and Facilitation Justin Yifu Lin Chief Economist and Senior Vice President the World Bank January 9,
2 Overview of Presentation Why sector-targeted industrial policy is a necessary conditions for sustained, dynamic growth in a country. Most industrial policies fail because they targeted industries that are not compatible with the country s comparative advantage. Historical experiences show that successful countries industrial policies, in general, targeted industries in countries with a similar endowment structure and somewhat higher per capita income Growth Identification and Facilitation 2
3 Industrial Upgrading, Facilitating State, industrial policy Economic development is a process of continuous technological innovation and industrial upgrading A facilitating state is required for rapid technological innovation and industrial upgrading because of the needs to: Solve coordination problems Address externalities Industrial policy is a necessary instrument for a facilitating state Contents of coordination will be different, depending on industries. The government s resources and capacity are limited. The government needs to use them strategically. 3
4 Comparative-advantage Defying and Failures of Industrial Policies The sad fact is that almost all governments in the world attempted to use industrial policies to play the facilitating role but most failed, as shown by Pack s paper. The reason is that the government s targeted industries went against the country s comparative advantages The firms in the industrial policy s targeted sectors were non-viable in competitive market Government s policy supports for their initial investment and continuous operations through all kinds of subsidies and protections were required. Those measures led to lack of competition and rent-seeking. As a result, the attempts to pick winners end up picking losers. 4
5 Latent Comparative Advantage and Picking Winners For an industrial policy to be successful, it should target sectors that conform to the economy s latent comparative advantage: Firms will be viable and the sectors will be competitive once the government helps the firms overcome the coordination and externality issues But how to pick the sectors that are the economy s latent comparative advantages 5
6 What Can Be Learned From History Historical experiences show that successful countries industrial policies, in general, targeted industries in countries with a similar endowment structure and somewhat higher per capita income: Britain targeted the Netherlands industries in the 16 th and 17 th century, its per capita GDP was about 70 % of Netherlands. Germany, France, and USA targeted Britain s industries in the late 19 th century, their per capita income were about 60 to 75 % of Britain s per capita GDP In Meiji restoration, Japan targeted Prussia s industries, its per capita GDP was about 40% of Prussia s. In the 1960s, Japan targeted USA s industries, its per capita GDP was about 40% of USA s per capita GDP In the 1960s-1980s, Korea, Taiwan, Hong Kong, and Singapore targeted Japan s industries, their per capita income was about 30% of Japan s per capita GDP In the 1970s, Mauritius targeted Hong Kong s industries, its per capita income was about 50% of Hong Kong s. In the 1980s, Ireland targeted information industries, its per capita income was about 45% of the USA s. In the 1990s, Costa Rica targeted memory chip assembly and testing, its per capita GDP was about 40% of that of Taiwan, which was the main economy in this sector. Unsuccessful industrial policies in general target industries in countries where their per capita GDPs were less than 20 per cent of those targeted countries. 6
7 Why target industries in dynamic countries with a similar endowment structure and somewhat higher income? Industrial upgrading is based on the changes in comparative advantages due to the changes in endowment structure. Countries have a similar endowment structure should have similar comparative advantages. A dynamically growing country s industrial development should be consistent with the changes in the economy s comparative advantages. Some of its industries will lose comparative advantage as the economy s endowment structure upgrades. Those industries will become the comparative advantage of the late comers. For countries with a similar endowment structure, the dynamic growing forerunners industrial development provides the pointer for the latecomers industrial development. 7
8 Step 1: Identifying sectors with latent comparative advantage Find dynamic growing countries with a similar endowment structure and with about 100% higher per capita income. Identify tradable industries that have grown well in those countries for the last 20 years as the potential targets of industries for upgrading or diversification Similar to Hausmann s idea of jumping to nearby trees, but easier to implement Consistent with FDI research suggesting technology transfer is easier when domestic and foreign firms are closer to each other on the technological frontier (Blomstrom, Kokko)
9 Step 2: Removing constraints for existing firms.how? See if some private domestic firms are already in those industries (of which may be existing or nascent). Identify constraints to quality upgrading, further firm entry, and reduction of transaction costs (hard and soft infrastructure). Take action to remove constraints Methods: Value-chain analysis Growth Diagnostics (Hausmann, Rodrik, and Velasco (2008)) Investment Climate Assessments (World Bank) Successful Examples Chile: wine Ecuador: cut flowers
10 Step 3: Seek FDI or organize New Firm Incubation Programs In industries where no domestic firms are currently present, seek FDI from countries examined in step 1, or organize new firm incubation programs. Famous examples of FDI: garment sector in Bangladesh Textile industry in Mauritius Memory chip assembly and testing in Costa Rica Electronics and other consumer products in China Information industries in Ireland Laura Alfaro and Andrew Charlton, in a paper in the Journal of International Economics, show that: Many countries promote FDI selectively Targeted sectors grow faster Famous example of incubation programs: Taiwan-China s Hsingchu Science-based Industrial Park for the development of electronic and IT industries Fundación Chile s demonstration of commercial salmon farming
11 Step 4: Scale up private firm s self discovery In addition to the industries identified above, the government should also pay attention to spontaneous self discovery by private enterprises and give support to scale up the successful private innovations in new industries Examples India s information industry Ethiopia s cut flower exports Peru s asparagus exports 11
12 Step 5: Create zones or industrial parks, and encourage industrial clusters In countries with poor infrastructure and bad business environment, special economic zones or industrial parks may be used to overcome these barriers to firm entry and FDI and encourage industrial clusters. Examples: China s special economic zones Mauritius export process zone Enormous Increase in Number of Zones World Wide: from 29 in 1975 to 3500 in 2006! The zones will be successful only if the industries targeted by the zones are consistent with the comparative advantages of their economies
13 Step 6: Provide limited subsidies to compensate for externalities The need for subsidizing pioneer firms Information externality of success and failure Asymmetry of gain of success and loss of failure The governments in developed countries compensate pioneer firms by: Patents Supports for basic research Mandate Government procurement Except for patents, the other supports are sector specific The government in a developing country can compensate pioneer firms in the listed identified in step 1 with Tax incentives for a limited period Direct credits for investments Access to foreign exchanges As the government s support is only to compensate for information externalities, the support can, and should, be limited both in magnitude and time. 13
14 Thank you 14
Rethinking Industrial Policy. Justin Yifu Lin
Rethinking Industrial Policy Justin Yifu Lin The Question After the WWII, most developing countries adopted industrial policies to promote economic growth. Except for a few economies in East Asia, most
More informationStudy Presentation. Vice President, OPORA RUSSIA. N.I. Zolotykh. July 9, 2010.
Study Presentation Vice President, OPORA RUSSIA N.I. Zolotykh July 9, 2010. 1 Study Partners RUSNANO T h e p r o j e c t w a s p e r f o r m e d b y : B a u m a n I n n o v a t I o n / S t r a t e g y
More informationForeign Direct Investment and Exports. James Gordon Presentation at IIFT September 20, 2002
Foreign Direct Investment and Exports James Gordon Presentation at IIFT September 20, 2002 FDI and Exports FDI in China FDI in India China vs. India FDI in Korea Implications for India FDI in China Exports
More informationGoing Beyond Aid and Concessional Loan. Justin Yifu Lin Center for New Structural Economics Peking University
Going Beyond Aid and Concessional Loan Justin Yifu Lin Center for New Structural Economics Peking University 1 Overview of Presentation Why Go Beyond Aid and Concessional Loan New Structural Economics
More informationInvestment for development:
Investment for development: Towards a new generation of investment policies for inclusive growth and sustainable development Anabel González Minister of Foreign Trade, Costa Rica 59th Session Trade and
More informationMarket Allocation Platform Guiding investment decisions to maximize ROI. Tourism Economics
Market Allocation Platform Guiding investment decisions to maximize ROI Tourism Economics core services Travel data and forecasts for 190 countries, 50 states, and 300 cities Policy analysis and recommendations
More informationEmpirical Trade Analysis 1-1
Empirical Trade Analysis?? 1-1 Dierk Herzer?? 1-2 Introduction This course examines empirical research methods on topics related to international trade and investment. We review the empirics of international
More informationChile: Business Environment and Investment Opportunities
Chile: Business Environment and Investment Opportunities Guest Speaker 14:00 15:00 GUEST SPEAKER Martin Pathan Investment Officer Foreign Investment Committee Chile: business environment and investment
More informationThe Global Summit of Women 2009 Santiago, Chile May 14-16
The Global Summit of Women 2009 Santiago, Chile May 14-16 Presentation on Doing Business in Chile By Bruno Philippi, President, SOFOFA (Federacion Gremial de la Industria), Chile Global Summit of Women
More informationThe Theory of Economic Growth
The Theory of The Importance of Growth of real GDP per capita A measure of standards of living Small changes make large differences over long periods of time The causes and consequences of sustained increases
More informationThe Theory of Economic Growth
The Theory of 1 The Importance of Growth of real GDP per capita A measure of standards of living Small changes make large differences over long periods of time The causes and consequences of sustained
More informationClick to edit Master title style. Presented by Sylvia Solf Private and Financial Sector Vice-presidency World Bank Group
Doing Business 2009 Presented by Sylvia Solf Private and Financial Sector Vice-presidency World Bank Group 2007 Starting a business Dealing with construction permits Employing workers Registering property
More informationCharting Mexico s Economy
Charting Mexico s Economy Designed to help executives catch up with the economy and incorporate macro impacts into company s planning. Annual subscription includes 2 semiannual issues published in June
More informationCountry Risk Conference Coface Country Risk
WORLD OVERVIEW OF COUNTRY RISK Country Risk Conference Coface Country Risk > Johannesburg, South Conference Africa 2014 > 12 th June 2013 Thursday, 15 th May 2014 Johannesburg, South Africa 1 Agenda 8.30
More informationInternational Trade. Chris Edmond NYU Stern. Spring 2007
International Trade Chris Edmond NYU Stern Spring 2007 1 Talking points: Lou Dobbs Television host and vocal critic of exporting jobs : The shipment of American jobs to cheap foreign labor markets threatens
More informationInvestment Trend and Economic Situation in Myanmar
Investment Trend and Economic Situation in Myanmar Dr. Marlar Myo Nyunt Director Directorate of Investment and Company Administration Myanmar Economic Policies Expanding our financial resources Improving
More informationForeign Direct Investment and Ease of Doing Business: Before, During and After the Global Crisis
Foreign Direct Investment and Ease of Doing Business: Before, During and After the Global Crisis Nihal Bayraktar Pennsylvania State University Harrisburg June 27, 2011 Introduction FDI has been seen as
More information1. Record levels of American outward foreign direct investment from 2000 to 2009,
Chapter 02 International Trade and Foreign Direct Investment True / False Questions 1. Record levels of American outward foreign direct investment from 2000 to 2009, totaling more than $2 trillion, caused
More informationUK ECONOMY SITUATION & PROSPECTS
UK ECONOMY SITUATION & PROSPECTS 26 November 2013 Hermione Gough Counsellor Europe and Global Issues British Embassy Paris UNCLASSIFIED 1 The pace of recovery picked up further in Q3, with UK GDP expanding
More informationECONOMIC GROWTH. Objectives. Transforming People s Lives. Transforming People s Lives. Transforming People s Lives CHAPTER
ECONOMIC 30 GROWTH CHAPTER Objectives After studying this chapter, you will able to Describe the long-term growth trends in Canada and other countries and regions Identify the main sources of long-term
More informationGrowth & Trade Policy: Concepts & Implications for Nigeria
Growth & Trade Policy: Concepts & Implications for Nigeria Robert Z Lawrence Albert L Williams Professor of International Trade and Investment Harvard Kennedy School & Senior Fellow Peterson Institute
More informationCoping with Trade Reforms: A Developing Country Perspective of the On-going WTO Doha Round of Negotiations
United Nations Conference of Trade and Development Coping with Trade Reforms: A Developing Country Perspective of the On-going WTO Doha Round of Negotiations United Nations New York, 8 July 2008 Santiago
More informationSpecial Economic Zones as a Trade Facilitation Measure. Asia Pacific Trade Facilitation Forum 2011
Special Economic Zones as a Trade Facilitation Measure Asia Pacific Trade Facilitation Forum 2011 SEZs presentation content: 1. What are SEZs and what role do they play? 2. Experience with SEZs and emerging
More informationProfessor Christina Romer. LECTURE 16 TECHNOLOGICAL CHANGE AND ECONOMIC GROWTH March 13, 2018
Economics 2 Spring 2018 Professor Christina Romer Professor David Romer LECTURE 16 TECHNOLOGICAL CHANGE AND ECONOMIC GROWTH March 13, 2018 I. OVERVIEW A. Two central topics of macroeconomics B. The key
More informationNEW GROWTH STRATEGIES. Dani Rodrik October 2014
NEW GROWTH STRATEGIES Dani Rodrik October 2014 A framework: combining growth theory, convergence and dualism Economic dualism is endemic Traditional activities traditional agriculture; small, informal
More informationANNEX 2: Methodology and data of the Starting a Foreign Investment indicators
ANNEX 2: Methodology and data of the Starting a Foreign Investment indicators Methodology The Starting a Foreign Investment indicators quantify several aspects of business establishment regimes important
More informationApplication: International Trade
9 Application: International Trade PowerPoint Slides prepared by: Andreea CHIRITESCU Eastern Illinois University 1 The Determinants of Trade The equilibrium without trade Only domestic buyers and sellers
More informationChina's Current Account and International Financial Integration
China's Current Account China's Current Account and International Financial Integration Kaiji Chen University of Oslo March 20, 2007 1 China's Current Account Why should we care about China's net foreign
More informationDeveloping Housing Finance Systems
Developing Housing Finance Systems Veronica Cacdac Warnock IIMB-IMF Conference on Housing Markets, Financial Stability and Growth December 11, 2014 Based on Warnock V and Warnock F (2012). Developing Housing
More informationHow Utah's Economy Benefits from International Trade & Investment
How Utah's Economy Benefits from International Trade & Investment With more than 95 percent of the world s population and 80 percent of the world s purchasing power outside the United States, future economic
More informationThe effects of the financial crisis on developing countries mapping out the issues. By Julian Jessop
The effects of the financial crisis on developing countries mapping out the issues By Julian Jessop 1. Plan of My Talk The outlook for advanced economies. Impact on developing countries. Some losers and
More informationFACTS AND FIGURES ON SERVICES ECONOMY N 1. 1/5 of the world total trade. 44% of world employment. 2/3 of world output. 40% of the global FDI total
United Nations Conference on Trade And Development PROSPERITY FOR ALL N 1 MAY 2013 SERVICES ECONOMY FACTS AND FIGURES ON 44% of world employment 74% 37% of developed countries employment 2/3 of world output
More informationUS Business Tax Reform Would Be Healthy for the World Economy. By Duanjie Chen and Jack M. Mintz
C.D. Howe Institute Institut C.D. Howe e-brief US Business Tax Reform Would Be Healthy for the World Economy By Duanjie Chen and Jack M. Mintz September 20, 2006 As Americans and the rest of world begin
More informationThe Pattern of Protection and Economic Growth: Evidence from Chinese Cities
The Pattern of Protection and Economic Growth: Evidence from Chinese Cities Jing Cai (University of California, Berkeley) Ann Harrison (UC Berkeley, Wharton, and NBER) Justin Yifu Lin (World Bank) October
More informationLab #7. Chapter 7 Growth, Productivity, and Wealth in the Long Run
University of Lethbridge - Department of Economics ECON 1012 Introduction to Macroeconomics LAB Instructor: Michael G. Lanyi Lab #7 Chapter 7 Growth, Productivity, and Wealth in the Long Run Answer Sheet
More informationAgainst the Consensus Reflections on the Great Recession. Justin Yifu Lin National School of Development Peking University
Against the Consensus Reflections on the Great Recession Justin Yifu Lin National School of Development Peking University Contents What caused the global crisis A win-win path to recovery Can developing
More informationGrowth. Prof. Eric Sims. Fall University of Notre Dame. Sims (ND) Growth Fall / 39
Growth Prof. Eric Sims University of Notre Dame Fall 2012 Sims (ND) Growth Fall 2012 1 / 39 Economic Growth When economists say growth, typically mean average rate of growth in real GDP per capita over
More informationAppendix. Table S1: Construct Validity Tests for StateHist
Appendix Table S1: Construct Validity Tests for StateHist (5) (6) Roads Water Hospitals Doctors Mort5 LifeExp GDP/cap 60 4.24 6.72** 0.53* 0.67** 24.37** 6.97** (2.73) (1.59) (0.22) (0.09) (4.72) (0.85)
More informationPOST-CRISIS GLOBAL REBALANCING CONFERENCE ON GLOBALIZATION AND THE LAW OF THE SEA WASHINGTON DC, DEC 1-3, Barry Bosworth
POST-CRISIS GLOBAL REBALANCING CONFERENCE ON GLOBALIZATION AND THE LAW OF THE SEA WASHINGTON DC, DEC 1-3, 2010 Barry Bosworth I. Economic Rise of Asia Emerging economies of Asia have performed extremely
More informationDivision on Investment and Enterprise
Division on Investment and Enterprise Readers are encouraged to use the data in this publication for non-commercial purposes, provided acknowledgement is explicitly given to UNCTAD, together with the reference
More informationEconomic Growth After the Crisis. Dani Rodrik April 20, 2009
Economic Growth After the Crisis Dani Rodrik April 20, 2009 Argument Growth in developing world => increased supply of tradables, especially of the non-traditional kind Global macro stability => smaller
More informationISA RESEARCH BRIEFING
ISA RESEARCH BRIEFING The Leading Growth Markets for Exporters July 31, 2018 Without a doubt, these are worrying days for exporters. Whether it is a business that is counting on export markets for much
More informationChapter 5. Partial Equilibrium Analysis of Import Quota Liberalization: The Case of Textile Industry. ISHIDO Hikari. Introduction
Chapter 5 Partial Equilibrium Analysis of Import Quota Liberalization: The Case of Textile Industry ISHIDO Hikari Introduction World trade in the textile industry is in the process of liberalization. Developing
More informationTotal Imports by Volume (Gallons per Country)
6/6/2018 Imports by Volume (Gallons per Country) YTD YTD Country 04/2017 04/2018 % Change 2017 2018 % Change MEXICO 60,968,190 71,994,646 18.1 % 231,460,145 253,500,213 9.5 % NETHERLANDS 13,307,731 10,001,693
More informationIntroduction to economic growth (1)
Introduction to economic growth (1) EKN 325 Manoel Bittencourt University of Pretoria M Bittencourt (University of Pretoria) EKN 325 1 / 32 Introduction In the last century the USA has experienced a tenfold
More informationWorld Consumer Income and Expenditure Patterns
World Consumer Income and Expenditure Patterns 2011 www.euromonitor.com iii Summary of Contents Contents Summary of Contents Section 1 Introduction 1 Section 2 Socio-economic parameters 21 Section 3 Annual
More informationTotal Imports by Volume (Gallons per Country)
7/6/2018 Imports by Volume (Gallons per Country) YTD YTD Country 05/2017 05/2018 % Change 2017 2018 % Change MEXICO 71,166,360 74,896,922 5.2 % 302,626,505 328,397,135 8.5 % NETHERLANDS 12,039,171 13,341,929
More informationProfessor Christina Romer. LECTURE 16 TECHNOLOGICAL CHANGE AND ECONOMIC GROWTH March 14, 2017
Economics 2 Spring 2017 Professor Christina Romer Professor David Romer LECTURE 16 TECHNOLOGICAL CHANGE AND ECONOMIC GROWTH March 14, 2017 I. OVERVIEW A. Long-run trend and short-run fluctuations in real
More informationLecture 13 International Trade: Economics 181 Foreign Direct Investment (FDI) and Multinational Corporations (MNCs)
Lecture 13 International Trade: Economics 181 Foreign Direct Investment (FDI) and Multinational Corporations (MNCs) REMEMBER: Midterm NEXT TUESDAY. Office hours next week: Monday, 12 to 2 for Ann Harrison
More informationDoes One Law Fit All? Cross-Country Evidence on Okun s Law
Does One Law Fit All? Cross-Country Evidence on Okun s Law Laurence Ball Johns Hopkins University Global Labor Markets Workshop Paris, September 1-2, 2016 1 What the paper does and why Provides estimates
More informationEQUITY REPORTING & WITHHOLDING. Updated May 2016
EQUITY REPORTING & WITHHOLDING Updated May 2016 When you exercise stock options or have RSUs lapse, there may be tax implications in any country in which you worked for P&G during the period from the
More informationEcon 340. The Issues. The Washington Consensus. Outline: International Policies for Economic Development: Trade
Econ 340 Lecture 19 International Policies for 2 3 The Issues The Two Main Issues: Should developing countries be open to international trade? Should developing countries be open to international capital
More informationSchedule of Accreditation issued by United Kingdom Accreditation Service 2 Pine Trees, Chertsey Lane, Staines-upon-Thames, TW18 3HR, UK
2 Pine Trees, Chertsey Lane, Staines-upon-Thames, TW18 3HR, UK Accredited to ISO/IEC 17021-1:2015 to provide quality Unit 6, Gordano Court Gordano Gate Business Park Serbert Close Portishead Bristol BS20
More informationThe Challenge of Economic Diversification : The Role of Policy and the Investment Climate
The Challenge of Economic Diversification : The Role of Policy and the Investment Climate Xavier Forneris Senior Investment Policy Officer Trade & Competitiveness World Bank Group Presentation at the Economic
More informationGlobalization and Outsourcing Don Rosenfield Session 21
Globalization and Outsourcing Don Rosenfield Session 21 The articles suggest a number of questions What do recent trends suggest for global strategies (e.g changes in Chinese sourcing)? What are strategies
More informationTotal Imports by Volume (Gallons per Country)
10/5/2017 Imports by Volume (Gallons per Country) YTD YTD Country 08/2016 08/2017 % Change 2016 2017 % Change MEXICO 51,349,849 67,180,788 30.8 % 475,806,632 503,129,061 5.7 % NETHERLANDS 12,756,776 12,954,789
More informationFDI in Myanmar and Its Outlook. Aung Naing Oo Director General / Secretary MIC
FDI in Myanmar and Its Outlook Aung Naing Oo Director General / Secretary MIC Outline Myanmar Nowadays Trend of Investment New Investment Law Way Forward Myanmar Nowadays Foreign Investment in Myanmar
More informationKey Issues in the Design of Capital Gains Tax Regimes: Taxing Non- Residents. 18 July 2014
Key Issues in the Design of Capital Gains Tax Regimes: Taxing Non- Residents 18 July 2014 How do we tax non-residents on capital income? Domestic design issues Tax treaty issues Interrelationship between
More informationFREE TRADE AGREEMENTS ANALYSIS
FREE TRADE AGREEMENTS ANALYSIS F R E E T R A D E A G R E E M E N T S I N F O R C E Free Trade Agreement About the Free Trade Agreement ASEAN-Australia-NZ Free Trade Agreement (AANZFTA) The AANZFTA is Australia
More informationCurrent Financial Crisis and the Polish and U.S. Economies Edward C. Prescott
Current Financial Crisis and the Polish and U.S. Economies Edward C. Prescott June 11, 2010 Cracow University of Economics Poland Is Not a PIG Poland Is Healthy and Growing The U.S. Economy Is Depressed,
More informationCOUNTRY GENERAL OVERVIEW
OUR OBJECTIVE TODAY Raise your awareness that there are several Brazilian IT Services and Solutions Providers that are more than capable to fit your bill with great quality, delivery precision and competitive
More informationTotal Imports by Volume (Gallons per Country)
1/5/2018 Imports by Volume (Gallons per Country) YTD YTD Country 11/2016 11/2017 % Change 2016 2017 % Change MEXICO 50,994,409 48,959,909 (4.0)% 631,442,105 657,851,150 4.2 % NETHERLANDS 9,378,351 11,903,919
More informationTotal Imports by Volume (Gallons per Country)
10/5/2018 Imports by Volume (Gallons per Country) YTD YTD Country 08/2017 08/2018 % Change 2017 2018 % Change MEXICO 67,180,788 71,483,563 6.4 % 503,129,061 544,043,847 8.1 % NETHERLANDS 12,954,789 12,582,508
More informationTotal Imports by Volume (Gallons per Country)
11/2/2018 Imports by Volume (Gallons per Country) YTD YTD Country 09/2017 09/2018 % Change 2017 2018 % Change MEXICO 49,299,573 57,635,840 16.9 % 552,428,635 601,679,687 8.9 % NETHERLANDS 11,656,759 13,024,144
More informationTotal Imports by Volume (Gallons per Country)
3/6/2019 Imports by Volume (Gallons per Country) YTD YTD Country 12/2017 12/2018 % Change 2017 2018 % Change MEXICO 54,169,734 56,505,154 4.3 % 712,020,884 773,421,634 8.6 % NETHERLANDS 11,037,475 8,403,018
More informationTotal Imports by Volume (Gallons per Country)
12/6/2018 Imports by Volume (Gallons per Country) YTD YTD Country 10/2017 10/2018 % Change 2017 2018 % Change MEXICO 56,462,606 60,951,402 8.0 % 608,891,240 662,631,088 8.8 % NETHERLANDS 11,381,432 10,220,226
More informationTotal Imports by Volume (Gallons per Country)
3/7/2018 Imports by Volume (Gallons per Country) YTD YTD Country 01/2017 01/2018 % Change 2017 2018 % Change MEXICO 54,235,419 58,937,856 8.7 % 54,235,419 58,937,856 8.7 % NETHERLANDS 12,265,935 10,356,183
More informationInstitutions, Capital Flight and the Resource Curse. Ragnar Torvik Department of Economics Norwegian University of Science and Technology
Institutions, Capital Flight and the Resource Curse Ragnar Torvik Department of Economics Norwegian University of Science and Technology The resource curse Wave 1: Case studies, Gelb (1988) The resource
More informationTotal Imports by Volume (Gallons per Country)
2/6/2019 Imports by Volume (Gallons per Country) YTD YTD Country 11/2017 11/2018 % Change 2017 2018 % Change MEXICO 48,959,909 54,285,392 10.9 % 657,851,150 716,916,480 9.0 % NETHERLANDS 11,903,919 10,024,814
More informationTotal Imports by Volume (Gallons per Country)
2/6/2018 Imports by Volume (Gallons per Country) YTD YTD Country 12/2016 12/2017 % Change 2016 2017 % Change MEXICO 50,839,282 54,169,734 6.6 % 682,281,387 712,020,884 4.4 % NETHERLANDS 10,630,799 11,037,475
More informationNeoliberalism, Investment and Growth in Latin America
Neoliberalism, Investment and Growth in Latin America Jayati Ghosh and C.P. Chandrasekhar Despite the relatively poor growth record of the era of corporate globalisation, there are many who continue to
More informationChapter 1. Introduction: The Facts of Economic Growth. Instructor: Dmytro Hryshko
Chapter 1. Introduction: The of Economic Growth Instructor: Dmytro Hryshko New Directions in Economic Growth Why are some countries rich and other poor? Modern treatment starts with Solow (1956, 1957)
More informationThe Disappearance of Manufacturing?
The Disappearance of? Purdue University West Lafayette, Indiana April 1, 4 William Strauss Senior Economist and Economic Advisor Fact? The United States is losing its manufacturing base Economic Assessment
More informationAsia-Pacific Trade Briefs: Hong Kong, China
i Asia-Pacific Trade Briefs: Hong Kong, China Merchandise Trade Hong Kong, China has a trade-to-gdp ratio of 386.95%. Merchandise trade accounted for 86.3% of Hong Kong, China's total trade in 2017. Hong
More informationLATIN AMERICAN ENTREPRENEURS MANY FIRMS BUT LITTLE INNOVATION
LATIN AMERICAN ENTREPRENEURS MANY FIRMS BUT LITTLE INNOVATION Daniel Lederman, Julián Messina Samuel Pienknagura, Jamele Rigolini Chief Economist Office for Latin America and the Caribbean World Bank More
More informationTotal Imports by Volume (Gallons per Country)
4/5/2018 Imports by Volume (Gallons per Country) YTD YTD Country 02/2017 02/2018 % Change 2017 2018 % Change MEXICO 53,961,589 55,268,981 2.4 % 108,197,008 114,206,836 5.6 % NETHERLANDS 12,804,152 11,235,029
More informationInternational Statistical Release
International Statistical Release This release and additional tables of international statistics are available on efama s website (www.efama.org). Worldwide Investment Fund Assets and Flows Trends in the
More informationThe Political Economy of Reform in Resource Rich Countries
The Political Economy of Reform in Resource Rich Countries Professor Ragnar Torvik Department of Economics Norwegian University of Science and Technology High-level seminar on Natural resources, finance,
More informationPotential Effects of Regional Comprehensive Economic Partnership (RCEP) on the Philippine Economy*
Potential Effects of Regional Comprehensive Economic Partnership (RCEP) on the Philippine Economy* Caesar B. Cororaton Presented at the Philippine Institute for Development Studies Quezon City, Metro Manila
More informationThe Evolving Role of Trade in Asia: Opening a New Chapter. Fall 2018 REO Background Paper
The Evolving Role of Trade in Asia: Opening a New Chapter Fall 2018 REO Background Paper Outline Trade Tensions and Spillovers: Spotlight on Asia Gains from Liberalization 2 Trade tensions have escalated.
More informationConstraints and Opportunities for Growth in the LDCs: Research to Support Action
Constraints and Opportunities for Growth in the LDCs: Research to Support Action John S. Wilson Development Economics Research Group Trade and International Integration World Bank April 19, 2012 1 Outline
More informationFedEx International Priority. FedEx International Economy 3
SERVICES AND RATES FedEx International Solutions for your business Whether you are shipping documents to meet a deadline, saving money on a regular shipment or moving freight, FedEx offers a suite of transportation
More informationExploiting FDI Opportunities:
Exploiting FDI Opportunities: Administration and facilitation of Swaziland s investment regime 23 May 2011 Thomas Farole Senior Economist, International Trade Department, World Bank Issues we will discuss
More informationWorld Economic Trend, Autumn 2004, No. 6
World Economic Trend, Autumn 24, No. 6 Published on November 5 by the Cabinet Office (summary) The autumn report focuses on three topics: an analysis of Cluster ; long range prospects for the world economy;
More informationSt. Martin 2013 SERVICES AND RATES
SERVICES AND RATES FedEx International Solutions for your business Whether you are shipping documents to meet a deadline, saving money on a regular shipment or moving freight, FedEx offers a suite of transportation
More informationWorld Investment Report 2013
Twenty-Sixth Meeting of the IMF Committee on Balance of Payments Statistics Muscat, Oman October 28 30, 2013 BOPCOM 13/25 World Investment Report 2013 Prepared by the UNCTAD WORLD INVESTMENT REPORT 2013
More informationThere are many different types of economic systems but we going to focus on three:
Economics is the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind. There are many different types of economic systems but
More informationChina s Financial System: Past, Present and Future
China s Financial System: Past, Present and Future Franklin Allen Wharton School China Week March 27, 2008 Conventional Wisdom China s Legal and Financial Systems are its weak link Unless they are rapidly
More informationEmerging market equities
November 22, 2010 Emerging market equities Jean-Pierre Talon, FSA, FICA Introduction Focus of this presentation is to set out the rationale for a strategic bias toward emerging market equities Consider
More informationLO AGENDA Mon 2/1. QOD #9: New Zombie GDP Review HW (CH 25 Q# 1-4 P #1) Economic Growth HW: Read pp Q #9-10
LO1 25-1 AGENDA Mon 2/1 QOD #9: New Zombie GDP Review HW (CH 25 Q# 1-4 P #1) Economic Growth HW: Read pp 512-523 Q #9-10 LO1 25-2 QOD #9: New Zombie GDP Suppose that work hours in New Zombie are 200 in
More informationPP5183: Globalization, Trade, International Finance
PP5183: 10 13. Globalization, Trade, International Finance LKY School of Public Policy Danny Quah 2016 2017 Sem 2 OUTLINE 1. Trade and Comparative Advantage 2. Balance of Payments 3. Conclusion Policy
More informationEconomic Development. Business Plan to restated. Accountability Statement
Economic Development Business Plan 1999-2000 to 2001-02 - restated Accountability Statement As a result of government re-organization announced on May 25, 1999, the Ministry Business Plans included in
More informationProfessor Christina Romer. LECTURE 16 TECHNOLOGICAL CHANGE AND ECONOMIC GROWTH March 13, 2018
Economics 2 Spring 2018 Professor Christina Romer Professor David Romer LECTURE 16 TECHNOLOGICAL CHANGE AND ECONOMIC GROWTH March 13, 2018 I. OVERVIEW A. Two central topics of macroeconomics B. The key
More informationGood growth, bad growth, and manufacturing. Dani Rodrik September 2011
Good growth, bad growth, and manufacturing Dani Rodrik September 2011 0.02.04.06 An extraordinary decade 1950 1960 1970 1980 1990 2000 2010 year smoothed trend actual Growth trends in world economy: GDP
More informationActuarial Supply & Demand. By i.e. muhanna. i.e. muhanna Page 1 of
By i.e. muhanna i.e. muhanna Page 1 of 8 040506 Additional Perspectives Measuring actuarial supply and demand in terms of GDP is indeed a valid basis for setting the actuarial density of a country and
More informationVietnam. HSBC Global Connections Report. October 2013
HSBC Global Connections Report October 2013 Vietnam The pick-up in GDP growth will be modest this year, with weak domestic demand and exports still dampening industrial confidence. A stronger recovery
More informationEncouraging trade and inward investment
79 Building our Industrial Strategy Encouraging trade and inward investment The opportunity The Government is committed to building a truly global Britain; a great, global trading nation that reaches out
More informationGrowth has peaked amidst escalating risks
OECD ECONOMIC OUTLOOK Growth has peaked amidst escalating risks 1 November 18 Ángel Gurría OECD Secretary-General Laurence Boone OECD Chief Economist http://www.oecd.org/eco/outlook/economic-outlook/ ECOSCOPE
More informationSustained Growth of Middle-Income Countries
Sustained Growth of Middle-Income Countries Thammasat University Bangkok, Thailand 18 January 2018 Jong-Wha Lee Korea University Background Many middle-income economies have shown diverse growth performance
More informationHow the emerging markets slowdown will impact listed Spanish companies
How the emerging markets slowdown will impact listed Spanish companies Nereida González, Pablo Guijarro and Diego Mendoza 1 Despite the favourable impact of recent international expansion by Spanish companies,
More information